SPX: Comparing Valuations To 2000 Peak Ignores Vastly Different Economic Outlook (SPX)
DNY59 As the S&P 500 has risen to new highs, analysts and investors have played down valuation concerns as they still compare favourably to the 2000 bubble peak. Justifying expensive valuations by comparing them with the biggest bubble in US history tells us something about the bullish sentiment in the market, but it also ignores…